The music streaming industry also grew strongly last year. Worldwide the providers recorded an increase of 32 percent. This emerges from a report by the market research company Counterpoint. Market leader Spotify recorded an increase in subscription numbers of 23 percent. The Swedish company accounted for 35 percent of all paid music streaming subscriptions. Spotify’s share of total industry sales is 31 percent, according to Counterpoint.
However, the competition was able to catch up: Apple’s subscription numbers rose by 36 percent in 2019. This means that 19 percent of all music streaming subscriptions and 24 percent of sales are now attributable to Apple Music. Amazon Music, in turn, achieved a market share of 15 percent in 2019. In the year before, the Amazon service still had a market share of ten percent. Subscriptions remain the most important source of income for the industry: 80 percent of all sales are generated through paid memberships.
Despite the dominance of global providers: regional streaming services are very successful in their respective markets
While the major international music streaming services dominate in the USA and Europe, some regional providers can successfully hold their own at the top in their respective markets. According to Counterpoint , for example, the provider Gaana remains the market leader in India and Yandex Music is on the Spitzer in Russia. In the Arab world, Anghami is the main provider and the Chinese market is dominated by Tencent’s music streaming offerings.
Counterpoint attributes the success of the regional providers to their focus on local content, among other things. In addition, providers such as Tencent and Yandex also have an extremely large reach in their respective home markets and can therefore advertise their music streaming offers accordingly effectively.